Your Advantage Dashboard tells you a lot. Are you listening? We understand how full your day can become, that’s why we designed a high-level and vehicle-specific interactive dashboard. The dashboard continuously monitors your collateral and notifies you when high-risk events occur. Events such as when:
This data can be powerful in helping you reduce risks and potential losses if you review the red flags it identifies daily and act timely.
Let me give you an example. Recently, we visited a number of customers to perform device health audits and assess their finance portfolios. We discovered that one of our customers did not regularly monitor the dashboard or have automated text or email alerts set up. Unfortunately, some of his collateral was no longer protected due to device tampering or battery disconnects.
We’ve seen more and more videos and conversations pop up on social media telling consumers how to disable payment collection devices. Of course, it violates the terms of their finance contract, but if they are planning on not paying you, it’s worth it to them. When you are instantly alerted to device tampering, you can respond quickly to ensure your collateral is protected.
Vehicle tracking and location are, of course, vital in asset protection. But Advantage collects, analyzes and categorizes vast amounts of predictive data to help you make collections decisions in real time and make future funding decisions based on past experiences.
For instance, our dashboard can show you whether or not it’s likely that your collateral is being used as a ride-share vehicle. You may or may not allow such activity, but you can determine if it is being used for it. You can then take action to prevent losses and reduce your risks. We all know that exceeding mileage expectations for the life of the finance contract will and often do result in higher repair costs and increased chances for a default.
Every year there are millions of vehicles left abandoned on the road. If your collateral is left on the street for more than pre-set length of time, you will instantly get an alert. A vehicle left abandoned on the street is subject to theft or vandalism.
Investing in GPS technology is a smart move if you want to reduce risks and keep more money in your pocket. But just like any monitoring tool, you need to use it. The technology is not designed to just throw in a vehicle and forget about it until it needs to be located in the event of non-payment or a skip.
There are so many valuable ways to use the vehicle data Advantage collects. If you are searching for a tool that helps you reduce risks and increase your bottom line, give me a call.
